Urstadt Biddle Properties Inc. (NYSE:UBA) agreed to acquire Bernards Square Medical Office Building in Bernardsville, Clockwork Childcare Center in Chester and the shopping centre in New Jersey from a local family on January 4, 2013. Urstadt Biddle Properties Inc. paid $6.4 million for Bernards Square Medical Office Building and Clockwork Childcare Center. The acquisition was funded with proceeds from the Urstadt Biddle Properties Inc.'

s recently completed stock offerings. The deal is subject to lender approval for of the transfer of the shopping center property. The closing of the shopping center property is expected within ninety days.